USDJPY Daily Analysis – March 28, 2017

USDJPY’s downward movement from 115.50 extended to as low as 110.11. Deeper decline it still possible and next target would be at 109.00 area. Near term resistance is at the top of the price channel on 4-hours chart and the key resistance is at 111.57, only break above this level could signal completion of the downtrend.